Elements Construction Ltd - Accounts to registrar - small 17.1
Elements Construction Ltd - Accounts to registrar - small 17.1
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2016 |
| FOR |
| ELEMENTS CONSTRUCTION LTD |
| ELEMENTS CONSTRUCTION LTD (REGISTERED NUMBER: 06265324) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30 June 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| ELEMENTS CONSTRUCTION LTD |
| COMPANY INFORMATION |
| for the Year Ended 30 June 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Edward House |
| North Mersey Business Centre |
| Knowsley Industrial Park |
| Liverpool |
| Merseyside |
| L33 7UY |
| ELEMENTS CONSTRUCTION LTD (REGISTERED NUMBER: 06265324) |
| BALANCE SHEET |
| 30 June 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| ELEMENTS CONSTRUCTION LTD (REGISTERED NUMBER: 06265324) |
| BALANCE SHEET - continued |
| 30 June 2016 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| ELEMENTS CONSTRUCTION LTD (REGISTERED NUMBER: 06265324) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30 June 2016 |
| 1. | STATUTORY INFORMATION |
| Elements Construction Ltd is a |
| company's registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| This is the first year of adoption of Financial Reporting Standard 102; there are no effects of transition which |
| require disclosure in these financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery etc. | - |
| Stocks |
| Work in progress is valued at the lower of cost and net realisable value. |
| Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| ELEMENTS CONSTRUCTION LTD (REGISTERED NUMBER: 06265324) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2016 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc. |
| £ |
| COST |
| At 1 July 2015 |
| and 30 June 2016 |
| DEPRECIATION |
| At 1 July 2015 |
| Charge for year |
| At 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 June 2015 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade creditors |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Other creditors |
| ELEMENTS CONSTRUCTION LTD (REGISTERED NUMBER: 06265324) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30 June 2016 |
| 8. | RELATED PARTY DISCLOSURES |
| The company is controlled by the directors in concert. |
| Included in other creditors in note 7 above is a loan due to the directors of £79,518 (2015 - £67,173). |
| Included in note 8 are loans from Messrs. Woods & Houghton (the directors) and other family members totalling |
| £1,368,042 (2015 - £1,371,042). It has been agreed that these amounts will not become repayable until the |
| company has returned to profitability and is financially sound. All loans are currently interest free and repayable |
| upon demand. |
| During the year a total of £85,200 (2015 - £100,000) was charged by The Houghton & Woods Partnership to |
| Elements Construction Ltd in relation to Rent & Management Service Charges. The directors of this company, |
| Messrs. Houghton & Woods, are the principal partners in The Houghton & Woods Partnership. All transaction |
| have been carried out on normal commercial terms. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| ELEMENTS CONSTRUCTION LTD |
| The following reproduces the text of the report prepared for the directors and members in respect of the |
| company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
| only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
| primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Elements Construction Ltd for the year ended 30 June 2016 which comprise the Income |
| Statement, Balance Sheet and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Elements Construction Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Elements Construction Ltd and state those matters that we have agreed to state to the Board of Directors of Elements Construction Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elements Construction Ltd Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Elements Construction Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Elements Construction Ltd. You consider that Elements Construction Ltd is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Elements Construction Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| Edward House |
| North Mersey Business Centre |
| Knowsley Industrial Park |
| Liverpool |
| Merseyside |
| L33 7UY |